Frequently Asked Questions

A chain wants to buy my pharmacy. Why do I need a broker?

Chains are experts in devaluation and shifting risk. We know first-hand how chains operate. We also know what chains have paid for pharmacies all across the country and what they should be willing to pay for your pharmacy. We tilt the playing field in your favor by knowing how to play and win their game. Using a broker gives you the upper hand. By introducing competition in the bidding process, we often see independent buyers make chains pay more or independent buyers outbidding chains.

My wholesaler has buyers and will handle the sale for free. Why should I pay a broker?

You get what you pay for. Your wholesaler’s focus is to keep the business. Our focus is to get you the highest price. We bring value to the transaction with our selling process. We create a healthy competitive tension among multiple buyers in a short window of time to increase the value of your pharmacy and get you the highest possible price. Selling a pharmacy through any party whose fiduciary duty is to someone other than you will limit your pool of buyers and decrease your eventual selling price.

What makes Pharmacy Consulting Broker Services different from other pharmacy brokers and pharmacy consultants?

Many so-called brokers and consultants are not legally licensed to sell a pharmacy. This can result in a deal not closing or possible legal ramifications, which could be disastrous for your pharmacy business. With Pharmacy Consulting Broker Services, you will be working directly with Dan Lannon, who is our President and CEO and is a fully licensed and insured business broker, registered pharmacist and pharmacy industry specialist, legally licensed to sell a business. Dan has experience selling retail, compounding, specialty and long-term care pharmacies to all buyer types. Dan has brokered pharmacy deals nationwide and has personally sold and closed on over 140 pharmacies in 42 states and counting. His combination of knowledge and experience is unmatched in the pharmacy mergers and acquisitions industry.

What is my pharmacy worth?

Pharmacies in similar areas with similar gross sales and net profit may sell for a big difference in price. The key to getting you the highest price is to match the ideal buyer for your unique situation. Often, brokers are not interested in finding that type of buyer, rather they go for the quick commission or “slam dunk” sale to the closest chain. It is our fiduciary responsibility to do all that we can to deliver the maximum value. We are unlike any pharmacy broker or pharmacy consultant. At Pharmacy Consulting Broker Services, we have national affiliations and corporate contacts that you do not see with many small firms. We will guide you to find the true value of your pharmacy. It costs you nothing extra, but can net you a big savings in the end. Please give us a call to discuss your situation and let us get you the highest value for your business.

What is the fee?

Broker fees are negotiable. We will look at each pharmacy on an individual basis. After we determine the scope of services, we will openly discuss our process and come to an agreement on a fee that is fair. We can assure you that our fees are extremely competitive compared to other brokers or consultants, and we believe our services and the value we bring to the process are second to none.

Can my accountant or attorney sell my pharmacy?

They can, but we do not recommend it. The reason is simple. You may have the top accountant or attorney in your state, but chances are they have never sold a pharmacy. There are parties out there that are experts at devaluing pharmacies. Pharmacy Consulting Broker Services will work with your accountant and attorney to provide professional and confidential representation from start to finish, netting you the highest value for your pharmacy. We are pharmacy experts and can advise on such topics as HIPAA, Board of Pharmacy rules and regulations, DEA issues, patient data transfer and more. We will work with you as a key part of your team in this process to assure a smooth transaction with the least amount of stress.